Pinnacle West Capital Corp (PNW) — Working Capital to Net Assets Ratio
Pinnacle West Capital Corp (PNW) has a Working Capital to Net Assets ratio of -13.4% as of September 2025. Working capital of $-964.82 Million (current assets of $2.00 Billion minus current liabilities of $2.97 Billion) is measured against net assets of $7.21 Billion. A higher ratio indicates strong short-term liquidity financed by the equity base. See Pinnacle West Capital Corp net asset quality index to measure how much of total assets are equity-financed.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
Pinnacle West Capital Corp Working Capital to Net Assets (1994–2024)
This chart shows how Pinnacle West Capital Corp's Working Capital to Net Assets ratio has evolved across 31 annual periods from 1994 to 2024. As of September 2025, the ratio stands at -13.4%, reflecting working capital of $-964.82 Million against net assets of $7.21 Billion USD. Check PNW tangible net assets ratio to evaluate the tangible quality of the company's equity base.
Annual Working Capital to Net Assets for Pinnacle West Capital Corp (1994–2024)
The table below presents the year-by-year Working Capital to Net Assets ratio for Pinnacle West Capital Corp from 1994 to 2024, covering 31 annual filings. Each row shows current assets, current liabilities, working capital, net assets, the ratio, and the change in percentage points compared to the prior year. For live market cap and the full company profile, see market value of Pinnacle West Capital Corp.
| Year | WC/NA Ratio | Working Capital (USD) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2024 | -16.8% | $-1.15 Billion | $6.86 Billion | $1.69 Billion | $2.84 Billion | ▼ -1.5 pp |
| 2023 | -15.3% | $-962.38 Million | $6.28 Billion | $1.93 Billion | $2.89 Billion | ▼ -15.1 pp |
| 2022 | -0.2% | $-11.59 Million | $6.16 Billion | $1.75 Billion | $1.76 Billion | ▲ +3.2 pp |
| 2021 | -3.4% | $-205.77 Million | $6.02 Billion | $1.55 Billion | $1.76 Billion | ▼ -0.6 pp |
| 2020 | -2.8% | $-162.11 Million | $5.75 Billion | $1.20 Billion | $1.36 Billion | ▲ +16.1 pp |
| 2019 | -18.9% | $-1.05 Billion | $5.55 Billion | $1.03 Billion | $2.08 Billion | ▼ -5.3 pp |
| 2018 | -13.5% | $-723.97 Million | $5.35 Billion | $924.99 Million | $1.65 Billion | ▼ -10.0 pp |
| 2017 | -3.5% | $-181.56 Million | $5.14 Billion | $1.02 Billion | $1.20 Billion | ▲ +6.0 pp |
| 2016 | -9.5% | $-470.73 Million | $4.94 Billion | $822.22 Million | $1.29 Billion | ▲ +2.2 pp |
| 2015 | -11.7% | $-551.80 Million | $4.72 Billion | $890.52 Million | $1.44 Billion | ▲ +1.3 pp |
| 2014 | -13.0% | $-585.71 Million | $4.52 Billion | $973.43 Million | $1.56 Billion | ▲ +0.3 pp |
| 2013 | -13.2% | $-575.03 Million | $4.34 Billion | $1.04 Billion | $1.62 Billion | ▼ -11.4 pp |
| 2012 | -1.9% | $-77.82 Million | $4.10 Billion | $1.01 Billion | $1.08 Billion | ▲ +7.9 pp |
| 2011 | -9.8% | $-386.24 Million | $3.93 Billion | $956.47 Million | $1.34 Billion | ▲ +0.2 pp |
| 2010 | -10.0% | $-378.81 Million | $3.78 Billion | $931.93 Million | $1.31 Billion | ▼ -5.4 pp |
| 2009 | -4.6% | $-154.42 Million | $3.35 Billion | $928.74 Million | $1.08 Billion | ▲ +13.5 pp |
| 2008 | -18.1% | $-623.45 Million | $3.45 Billion | $882.48 Million | $1.51 Billion | ▼ -5.7 pp |
| 2007 | -12.4% | $-437.52 Million | $3.53 Billion | $947.45 Million | $1.38 Billion | ▼ -12.9 pp |
| 2006 | 0.5% | $16.10 Million | $3.45 Billion | $1.47 Billion | $1.46 Billion | ▲ +11.6 pp |
| 2005 | -11.1% | $-380.68 Million | $3.42 Billion | $1.89 Billion | $2.27 Billion | ▲ +5.5 pp |
| 2004 | -16.6% | $-488.77 Million | $2.95 Billion | $1.14 Billion | $1.63 Billion | ▼ -10.1 pp |
| 2003 | -6.4% | $-181.93 Million | $2.83 Billion | $969.05 Million | $1.15 Billion | ▲ +2.6 pp |
| 2002 | -9.0% | $-242.43 Million | $2.69 Billion | $812.69 Million | $1.06 Billion | ▲ +5.5 pp |
| 2001 | -14.5% | $-363.52 Million | $2.50 Billion | $727.40 Million | $1.09 Billion | ▲ +2.1 pp |
| 2000 | -16.7% | $-397.38 Million | $2.38 Billion | $793.91 Million | $1.19 Billion | ▼ -16.8 pp |
| 1999 | 0.1% | $3.30 Million | $2.21 Billion | $498.80 Million | $495.50 Million | ▲ +8.3 pp |
| 1998 | -8.1% | $-183.40 Million | $2.26 Billion | $456.80 Million | $640.20 Million | ▼ -4.7 pp |
| 1997 | -3.4% | $-74.60 Million | $2.20 Billion | $449.10 Million | $523.70 Million | ▲ +1.2 pp |
| 1996 | -4.6% | $-100.30 Million | $2.19 Billion | $450.30 Million | $550.60 Million | ▼ -1.1 pp |
| 1995 | -3.4% | $-74.00 Million | $2.15 Billion | $430.50 Million | $504.50 Million | ▲ +1.3 pp |
| 1994 | -4.7% | $-96.50 Million | $2.04 Billion | $435.60 Million | $532.10 Million | — |